I cover entrepreneurs, people who create value (and make money) out of the ideas in their heads. I spent three years on staff at Forbes before leaving to start Haymaker , a PR firm for startups, in May 2014. (Don't worry, I never write about my clients.) In the age of "The Social Network" myth, I get a kick out of delving into the reality of launching a business. Before joining Forbes I spent a year toiling in startup obscurity at Squidjob.com. Since my bedroom was the office, I never had to sleep under my desk. Comments, tips and forceful criticism are appreciated.

But if you’d prefer to bypass the corporate ladder and actually build something of your own, spending upwards of $140,000 and two years without pay is just about the worst way to go about it. Because looming outside those classroom walls is a creature far less merciful than any b-school professor: the market. Customers, you may be surprised to find, don’t give a damn about your degree—and the market will fire you faster than any ungrateful boss.

Want to take the plunge but need a bit of guidance and support? Applying to a so-called startup incubator may be a far better option than business school.

Business incubators have been around since the 1950s. Typically attached to universities, these entities offered a proving ground, with back-office resources, for fledgling entrepreneurs.

Now a new breed of incubator, catering mainly to technology types, is springing up all over the country. These startup hubs offer expert mentorship, resources like office space and legal counsel, and even seed money—typically in exchange for a small amount of equity in tiny (or theoretical) companies. More importantly, early-stage investors are paying close attention.

Paul Graham, founder of Y Combinator, is the father of all startup incubators. (Y Combinator birthed Dropbox, a file hosting company valued at $4 billion, among other newly minted tech stars.) Since Graham launched his incubator in 2005, about 100 more have come on the scene worldwide.

Like top business schools, startup incubators are particular about whom they let in. Actually, they’re stingier: With acceptance rates typically in the low single digits, your odds of getting a bid to Harvard Business School are about three times greater than nabbing a spot in a premium incubator.

For the lucky few, here are eight reasons why incubators beat out business school:

You Can’t Teach Entrepreneurship

The truth is that you’ll never be fully prepared to create a business—and no amount of classroom time will change that. Kathryn Minshew, founder of DailyMuse, a career advice and job placement site for young female professionals, is off to Y Combinator in January. Minshew decided to forego an MBA in favor of starting a company because “I felt like I could learn more by actually running a company and by talking to others who are running companies,” she says. “There were so many other ways to learn the skills I needed and they didn’t come with an MBA’s high price tag.”

Paul Graham offers a different, but equally persuasive, insight: “I’d tear my eyes out in some of the classes they have in business school.”

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This is a great post and seems to be the growing trend everywhere. In fact, you may have seen Peter Thiel funding entrepreneurs $100k to drop out of school. If that’s not supportive of your argument, I don’t know what is!

But what about entrepreneurs who can’t get into programs, who don’t want to move, aren’t looking for big financing, or don’t need wholesale help for their business? Are we creating a “one-size fits all” model with the cookie-cutter approach off the back of Y-Combinator?

I think there’s a better approach. It’s a virtual accelerator for people who “don’t fit the model” (Know any entrepreneurs who don’t fit traditional models?) with equally strong mentors (but better and more of them), a larger community, self-paced, and you don’t have to give up equity.

And it launches in 3 weeks.

We got so close to a powerful, real alternative to traditional education, but instead we just shortened it, prettied it up and put VCs in charge.

I stand somewhere in the middle. Without my 4 year engineering education that taught me how to learn new skills and value analytics I wouldn’t be nearly as well off to run our startup for startups.

http://www.kickofflabs.com.

Since I run that I also seen founders from all sorts of different backgrounds. I’d say the one thing that can’t be taught (and must be learned) is the required ability to adapt quickly to change and wear several hats.. not just your banker hat.

I totally agree, you can not teach the entrepreneur spirit. Entrepreneurs are a rarity of freedom and expression that can not be contained. The Bill Gate(s), the Steve Jobs(s) that are out there, even the Zuckerberg(s) that just had the intestinal fortitude to come up with an idea, and go with it and look at them; I would say that 2 out of 3 at least were high school dropouts that had just an idea, and at the end of the day, they became the industry tycoons, bigger than T. Boone Pickens, and they did it with ingenuity, energy and zest that can not be taught. The funny thing is when Harvard calls both Gates and Zuckerberg back (whom dropped out of Harvard) and Harvard gives them an Honorary Degree.

This is a great article. I myself feel to be a prime example. I dropped out of college to move to NYC to discover what the hell I really wanted to do with my life. I somehow stumbled into a start up, Mix Bikini. The things that I have learned through this company, could NEVER be taught in a classroom. I’ve learned PR, advertising & marketing, manufacturing, licensing, customer service, and most importantly the value of trust. I know if I spent the next 6 years or so in a classroom, I would just be miserable… And of coarse in debt!

Not to say this is any easy road being in a Start up. It is a huge risk. But with faith in your product, and passion to show the world- success will find its way.!